Fortress Investment Group; the Investment Trendsetter.
Fortress Investment Group is a leading investment management firm internationally. With its headquarters located in New York, the firm was founded in 1998 by its three founders Wes Edens, Randal Nardone and Rob Kauffman. The first two are still principals of the firm, but Kauffman retired in the year 2012 to focus on his long-life interest in car racing.The main objective while forming the organization was to create an alternative asset strategy that would raise private equity and transform it into cutting edge investment vehicles. In the beginning, their assets under management were barely over $400 million, but within the first five years of operations, this figure had increased to approximately $3.9 billion. This would further increase to $32 billion by 2007.Fortress Investment Fund I was the first investment vehicle that the company launched in 1999. Its earliest investments were in real estate, which included both Toronto and New York markets.
Fortress Investment Group swiftly grew to start managing hedge funds and debt securities.During the first decade of its existence, Fortress was faced with several challenges, but the firm was able to overcome them through the able leadership of its principals. In 2007, the company announced its first initial public offer. This event made history as it was the first private equity firm of its size to declare an IPO. By this time, Fortress had expanded its first investment vehicle Fortress Investment Fund I, with other versions. Also, the firm was preparing to launch the Long Dated Value Funds, the Drawbridge Global Macro Fund, Fortress Partners Fund, the Drawbridge Special Opportunities Fund, and the Fortress Brookdale Investment Fund; which were to get online soon. Also between 2006 and 2007, Fortress Investment Group had bought and acquired a number of key institutions among them; the Canadian company Intrawest ( which was the largest ski resort operator in North America), RailAmerica, Penn National Gaming (which operated horse racing venues and casinos), and Florida East Coast Industries (Owning Florida East Coast Railway by then).
Fortress Investment Group is a highly diversified investment management firm, setting the investment trends globally. Its currently operating under the able leadership of its three principals; Randal Nardone, Wes Edens, and Peter Briger. The first two are based in New York while the latter is located in San Francisco. The company has experienced rapid growth over the years. Currently, it has over $43 billion in assets under management. It also opened offices in other parts of the world to increase its market share and serve its clients effectively. Read More.